What I Learned This Week

Why the big tech reckoning could turn into a bloodbath in 2019.

According to CNBC’s Lawrence McDonald, the analysts he tracks had roughly 40 “buy” ratings on Apple, and not a single “sell” rating as of November 1st. And as Bloomberg reported last week, eight hedge funds lost a combined $2.13 billion when Apple cut its revenue outlook on January 2nd. Yet, as Bloomberg’s Shira Ovide pointed out about Apple’s struggles: “This should have been absolutely predictable to anyone who was able to peer outside of Apple’s bubble.” From September through our final issue of last year, we warned again and again about the readily-apparent fundamental threats to Apple (see WILTWs September 13, and November 15, 2018). Global sales of smartphones had been declining since…

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